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Oil companies are making record profits.(The Week)(Brief article)
National Review
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November 21, 2005 |
COPYRIGHT 2005 National Review, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
Oil companies are making record profits. ExxonMobil made $9.92 billion in the last quarter, which is 75 percent higher than the same period last year and more than any company has ever made during a quarter. Naturally, politicians are upset. Democrats are urging a windfall-profits tax, and Republican majority leader Bill Frist wants the Senate to investigate. Frist says, "If there are those who abuse the free-enterprise system to advantage themselves and their businesses at the expense of all Americans, they ought to be exposed, and they ought to be ashamed." An investigation is an excellent idea. Perhaps the senators can subpoena some high-school economics teachers who will ...
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Source: HighBeam Research, Oil companies are making record profits.(The Week)(Brief article)